It's about half of our customer we're still use core or control with the larger enterprise customers obviously using the complete solution. These companies are more identified with firewall solutions. By browsing bankinfosecurity.com, you agree to our use of cookies. We support and enable their business. By submitting this form you agree to our Privacy & GDPR Statement, General Data Protection Regulation (GDPR). Tomer Weingarten is the founder and CEO of SentinelOne, an endpoint cybersecurity company, and platform headquartered in Mountain View, California. The Last 12 Months Of Insider Transactions At SentinelOne This is XDR. Why Fraud Continues to Dominate Faster Payments, 10 Belt-Tightening Tips for CISOs to Weather the Downturn, CISO Discussion Featuring Forrester: Key Forces Shaping the Future of SOC Automation, Telehealth Privacy Concerns to Be in Spotlight Post-COVID-19, Simplifying your Security Stack with SSE Integration, Validate, Verify and Authenticate your Customer Identity, Live Webinar | Don't Be Held Hostage: Detect and Intercept Pre-Ransomware Activity and Ransom Notes. We knew from the beginning that the best solution would have to harness the power of data and AI. in Economics from Delhi University in India and an M.A. Make no mistake, this is a competitive market. I mean, they deal with that, we deal with that. For us, it's one singular offering, and it's super simple to use.". Prior to that, Mr. Weingarten co-founded Carambola Media Ltd., a publisher focused platform that creates new ad revenue streams through engaging content formats, where he served as Chief Technology Officer from May 2011 to May 2012. Sure. Massive sales forces at various channel partners in the MDR space, MSSP partners, IR partners, traditional resellers and distributors. Got it. I'll touch on a few of the highlights before we open for Q&A. Thanks a lot. For example, 652 customer reviews analyzed by Gartner PeerInsights give its Falcon endpoint protection platform 4.9/5 stars. The first item is share count. We listen to our customers adding even more automation capabilities. But the company's endpoint security revenue skyrocketed by 112.2% from $88.2 million in 2020 to $187.1 million in 2021, which is the highest growth rate of any of the 20 leading endpoint security vendors evaluated by IDC. So to us, again, it really falls into the strategy that we took up by enabling our customers to pick any vendor and indeed builds on top of the Singularity platform. So we've been really maniacally tracking sales efficiency, and that has been improving quarter-after-quarter. It's predominantly in the second half of this year. And I think that's the reason why we're winning both against incumbents, that don't only provide the protection fees, but also think about hardening, think about anti-tempering. Thank you. Finally delighting our customers, I'm especially proud that our net promoter score, or NPS, has risen every single quarter in the past year. Thats a pretty impressive 347% compound annual growth rate in value. SentinelOne is forecasting revenue growth of $161 million, an increase of 23 percent from the last quarter and 115 percent from the same quarter last year. First automation, automation is key to neutralizing threats effectively and in real-time. So to us, again being completely cloud native, being multi-talented is a competitive differentiator we have for that part of the market. We added the highest number of million dollar ARR customers this past quarter. So sequential ARR grew $37 million bucks, if I'm not mistaken, just a kind of housekeeping items, I presumed Scalyr likewise in first quarter, right. And as more enterprises rip out their aging legacy solutions, so I'm just wondering if that's the right characterization of the strong demand that you're seeing or do you think the ransomware attacks that we've seen over the last nine months, maybe fueling part of the momentum. We've seen huge lengthen expand opportunities. Equally important, is you really have to have some foresight and an understanding of the problem domain. We feel as far from it and it can vary significantly. Looking back, it took over three years to reach a $100 million in ARR and just three quarters to nearly reach the next $100 million. At Coty Inc., Sue Nabi scored perhaps the biggest CEO pay deal ever granted in the world of beauty: $283 million. After speaking with CEO, Tomer Weingarten, a few hours prior to its IPO, I see three reasons to consider buying the stock: Large Addressable Markets Superior Product Performance Aiming For. Mark Parrinello has served as our Senior Vice President of Global Sales since February 2020. He would team up with Almog Cohen, who was a security expert at Check Point Software Technologies. Qualcomm products referenced on this page are products of Qualcomm Technologies, Inc. and/or its subsidiaries. SentinelOne, which develops AI-powered software for cybersecurity, launched its IPO today. Prior to that he held several application security and consulting roles at various enterprises, and was . Mr. Conder brings over 25 years of experience scaling high-growth, public companies in the technology sector. Founded in April of 2006, dPolls is a social community website for opinions and polls. So we think the the market momentum in customers understanding that they need to change the mindset and we move over to a next gen offering is not really mainstream. The Mountain View, California-based company was founded in 2013 by Israelis Tomer Weingarten, its CEO, and Almog Cohen. So the ability to really address all of these new opportunities in cybersecurity that might have not been there a couple of years ago are not only an opportunity, but also a competitive differentiator that we have. Fueled by new customers and existing customer expansion, we delivered ARR of $198 million in the quarter, accelerating 127% year-over-year. At the end of the day, when youre in a startup and youre building a product, youre aiming for what would be a mass-market product in maybe three years from now. This is the base run rate going forward. I would now like to pass the conference over to your host, Doug Clark, Head of Investor Relations with SentinelOne. Excluding the redundant costs for the Scalyr migration, we estimate fiscal 2022 gross margin would be roughly similar to our gross margin we achieved this quarter. Cybersecurity startup . That means fewer and more accurate alerts based on data. We're working on getting our largest customers over first, which is why you see the depth that we're expecting in the second half, but going forward, we think we should have a baseline of around where we're at right now, barring any other efficiencies we see on the product as we continue to advance it. This is low compared to other firms like CyberArk (82 percent), Palo Alto (89 percent) and CrowdStrike (74 percent). But we thought that an IPO was critical. As for SentinelOne, the vision was to build a next-generation cybersecurity platform that leveraged AI. So we like that mix, we feel it's a good mix for us. Yes, we're looking definitely to extend more and more into cloud security. And that's not only fueled by our IPO but also, a great performance in the Gartner Magic Quadrant where we were singled out at the vendor with the most critical capabilities out of every vendor out there for any buyer type. Mr. Ashkenazi holds a B.S.C.S. The proof of concept demo I went through before selecting this product was thorough and set us up for success when we did decide to continue our relationship with CrowdStrike., They also love the SentinelOne Singularity Platform. In addition to the founding of SentinelOne, Weingarten also co-founded two other companies earlier in his career. What we're seeing and Tomer talked about this is with a tremendous innovation, introduction of new modules, new surfaces to protect new problems to solve. SentinelOne, Inc. (NYSE:NYSE:S) Q2 2022 Earnings Conference Call September 8, 2021 5:00 PM ETCompany ParticipantsDoug Clark - Head of Investor RelationsTomer Weingarten - Co-Founder and. Their platform, which automates endpoint protection, detection, response, and remediation, offers large organizations a powerful security tool for protecting one of their most valuable assets: information. But even when it was back at Sentinel Ones level, it was growing faster, with revenue growth of 140 percent compared to the previous year. I think the road is long, and I think what really is important to understand about our platform is we're much more than endpoint security. Customers give CrowdStrike high marks. Thank you very much for taking my question. David Bernhardt has served as our Chief Financial Officer since September 2020. What we're bringing is automation and machine learning, ease of use, and really we're democratizing very advanced technology. Customers today are primarily looking to augment rather than replace their SIEM product with XDR, and Weingarten says shipping some data to the XDR provider rather than the SIEM will save customers significant money. And once again, we do look at the peers they're focused on detection and response. Except as required by law, we assume no obligation to update these forward-looking statements publicly, or to update the reasons actual results differ materially from those anticipated in the forward-looking statements, even if new information becomes available in the future. Since then, its market value has increased sevenfold. From June 2014 to February 2017, Mr. Parrinello served as Vice President of American Sales at Nimble Storage, Inc., a data storage solutions company that was acquired by Hewlett Packard Enterprise Company in April 2017. Don't think we're cheaper by any degree. The cybersecurity firm SentinelOne helps deliver autonomous security for endpoint, data center, and cloud environments to help. Prior to that, Mr. Weingarten co-founded Carambola Media Ltd., a publisher focused platform that creates new ad revenue streams through engaging content formats, where he served as Chief Technology Officer from May 2011 to May 2012. And are there enough people out there to fulfill your needs? When I think of growing up as a teenager, I was pretty impressed with Bill Gates story. A number of vendors are talking about the start of another firewall refresh cycle, but given the comments you've made today, it sounds like you're indicating that we're also at the start of an end point refresh cycle. Thank you. Whats the Priority for MSS/MDR Selection for 2023? And how many people are you planning on adding in the Czech Republic facility? Ms. Ghatak holds a B.A. ARR of nearly $200 million and growing 127% is nothing short of astounding. During an ISMG interview at Black Hat USA 2022, Weingarten discussed his company's biggest bets from cloud workload protection and unstructured data ingestion to accelerating automation and becoming a full SIEM replacement (see: SentinelOne's $100M Venture Capital Fund Seeks Data Startups). Bloomberg says the firm is interviewing bankers for a share offering this year; the Tel Aviv based company was founded in 2013 by Tomer Weingarten, its CEO, and Almog Cohen Before SentinelOne, Tomer led product development and strategy for the Toluna Group as a VP of Products. I guess relative to the question, partner retention results. We sell three platform tiers, core control in our most comprehensive and popular tier complete. In Q2, we added the highest number of customers with ARR over $1 million compared to prior quarters. Like to pass the conference over to your host, Doug Clark Head!: $ 283 million, and cloud environments to help this form you agree to our Privacy & Statement. 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